DHAKA, BANGLADESH – Media OutReach Newswire – 9 April 2025 – ShopUp, Bangladesh‘s largest B2B commerce platform, and Sary, the leading B2B marketplace and services platform in the Gulf, have merged to form SILQ Group. This merger brings together Gulf & Emerging Asia, creating the largest B2B commerce platform to serve the fastest-growing consumer markets in the region, and across the globe. The merger is backed by a $110 million funding led by Sanabil Investments, a wholly owned company by Saudi Arabia‘s Public Investment Fund (PIF) and Peter Thiel‘s Valar Ventures. This funding includes an equity investment and financing facility for SILQ Financial, the group’s financial services arm.

Together, ShopUp and Sary have served over 600,000 retailers, hotels, restaurants, cafes, and wholesalers, impacting tens of millions of customers in mom-and-pop shop communities since inception. To date, the combined network has made over $5 billion in transactions on their platforms and exceeded $750 million in embedded financing disbursements. Furthermore, the companies have facilitated a total of 100 million shipments. This will establish SILQ as the platform of choice that enables businesses to grow by increasing their efficiency through a combination of financial tools, logistic services, and commerce features.

Post-merger, both ShopUp and Sary brands will continue to operate in their respective geographies under their respective brand names, while leveraging SILQ‘s infrastructure and combined capabilities. The group will also establish SILQ Financial as its financing arm. It will be creating financial infrastructure, doubling down on the embedded financing scale of both markets and the Point-of-Sales (POS) business.

ShopUp‘s Founder & CEO, Afeef Zaman, will serve as SILQ Group CEO, while Sary‘s Founder & CEO, Mohammed Aldossary will lead SILQ Financial as CEO.

“Through this merger, we‘re entering what‘s set to become one of the world‘s largest trade corridors—projected to reach $682 billion. We‘re in the front seat to serve some of the most exciting, fast-growing economies that are set to shape global consumption in the coming decades, giving them greater access to products from around the world.”, said Afeef Zaman, CEO of SILQ Group.

“By merging our strengths, we’re not just expanding our reach – we’re revolutionizing how digital commerce serves Gulf’s merchants and South Asia manufacturers. This alliance brings together the best of both worlds: deep regional expertise and world-class technology to empower every business in our ecosystem where financial services are a cornerstone,” said Mohammed Aldossary, CEO of SILQ Financial.

“SILQ is poised to become a leading B2B commerce player both regionally and globally. It addresses numerous challenges faced by B2B businesses seeking a fully integrated platform that combines financial, logistics and commerce services. This merger will enhance SILQ‘s depth, expertise and scale. We remain committed to supporting the company‘s leadership to ensure this merger benefits all stakeholders,” said a spokesperson at Sanabil Investments.

“Saudi Arabia and the Gulf represent one of the most exciting economic stories in the world today. This merger reflects a bold vision to place these markets at the center of a new commercial ecosystem connecting with South Asia. With a leadership team that has consistently demonstrated courage and foresight, SILQ has the potential to define this category through ambition that matches the regions it serves,” said James Fitzgerald, Founding Partner at Valar Ventures.

SILQ is backed by renowned investors, including Sanabil Investments, a wholly owned company by Saudi Arabia‘s Public Investment Fund (PIF), Peter Thiel‘s Valar Ventures, Flourish Ventures, VSQ, MSA Capital, Rocketship VC, STV, Wafra Investment (owned by Kuwait PIFSS), Peak XV, Prosus, Tiger Global, Endeavor Catalyst, and Raed Ventures. This round will also see participation from new investors like Qatar Government owned Qatar Development Bank. SILQ is set to establish a strong presence in Qatar to extend its offering to SMEs in Qatar.

Hashtag: #ShopUp

The issuer is solely responsible for the content of this announcement.

About ShopUp

ShopUp is a B2B commerce company that connects mills, brands, and manufacturers to small neighborhood shops, creating a seamless distribution for food & essentials. Currently, millions of people in Bangladesh access food and essentials through ShopUp’s network of small shops.

For more information on ShopUp, visit: https://shopup.org/

LinkedIn: https://www.linkedin.com/company/shopfront-limited/
Facebook: https://www.facebook.com/ShopUpNow

About Sary

Sary is the leading B2B marketplace and services platform in the Gulf that connects small businesses with manufacturers and lenders to procure supplies efficiently.

For more information on Sary, visit: https://www.sary.com/en/

LinkedIn: https://www.linkedin.com/company/trysary/

About SILQ

SILQ is a platform dedicated to bridging economies and empowering businesses to trade, grow, and navigate new frontiers. By enabling seamless commerce, logistics, and finance, SILQ unlocks opportunities in emerging economies, fueling ambitions and redefining global trade.

For more information on SILQ, visit: https://www.SILQ.net/

About Sanabil Investments

Sanabil is a financial investment company, wholly owned by the Public Investment Fund (PIF) that commits more than USD 3 billion in capital per annum into global private investments that include VC/Growth. Sanabil is a dynamic, nimble, and highly experienced team of investment professionals. Sanabil provides partners with patient capital, the ability to invest across multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, great minds, and great companies.

About Valar

Valar Ventures is a venture capital fund based in the United States, founded by Andrew McCormack, James Fitzgerald and Peter Thiel. The firm seeks out exceptionally talented teams and invests globally in high-margin, fast-growing financial technology companies that are pursuing huge market opportunities, such as Xero, Wise (formerly TransferWise), N26, Bitpanda, Qonto, Bestow, Octane and Moss. Valar expects to follow-on significantly as the business scales.

For more information visit- https://valar.com/

MANILA, PHILIPPINES – Media OutReach Newswire – 9 April 2025 – Philippine small and medium-sized businesses (SMEs), particularly those in the retail and food & beverage (F&B) sectors, can now enjoy greater peace of mind when it comes to tax compliance. AutoCount, a leading provider of accounting and business software solutions, has achieved official accreditation from the Bureau of Internal Revenue (BIR) for its Point-of-Sale (POS) software, marking a significant step forward in simplifying tax processes, enabling SMEs to streamline their operations while adhering to regulatory requirements.

The BIR-accredited AutoCount POS software automates sales reporting and tax calculations, cutting down manual data entry by up to 70%. This means fewer errors, faster submissions, and more time for business owners to focus on growth instead of paperwork.

Reliable, Compliant, and Built for Growth

“This BIR accreditation reflects our mission to empower Philippine SMEs with reliable, compliant, and efficient solutions,” said Mr. Vanadium Ho, Country Manager of AutoCount Philippines. “ By aligning our POS software with BIR guidelines, we help SMEs ensure accurate electronic invoicing, simplify sales reporting and achieve seamless regulatory compliance, ultimately driving long-term success.”

Seamless Integration with BIR-CAS-Ready Accounting Software

AutoCount’s capabilities goes beyond just POS. Its BIR-CAS-Ready Accounting software integrates seamlessly with the POS solution, bridging the gap between front-end transactions and back-end accounting processes. This integration automates accounting processes, reduces tedious manual errors, and saves time. SMEs can effortlessly generate accurate electronic invoices and comprehensive financial reports, ensuring tax compliance.

“AutoCount is committed to delivering comprehensive software solutions tailored to the diverse needs of Philippine SMEs,” Mr. Ho emphasized. “Our flexible, customizable, and scalable systems support businesses at every stage—from startups to large enterprises. With functionalities comparable to premium ERP solutions from top U.S. brands, AutoCount offers a more affordable and accessible alternative for local businesses.”

Empowering Philippine SMEs with Smarter Tools

AutoCount is redefining how SMEs handle sales and finance. Its user-friendly POS and accounting software streamline operations, reduce administrative workload, and ensure businesses stay compliant with local tax laws—all while remaining cost-effective and reliable.

To learn how AutoCount can help your business simplify BIR compliance and streamline operations, visit https://ph.autocountsoft.com or requesting a free demo today.

Hashtag: #AutoCountPOS #AutoCountAccounting #AutoCount #TaxCompliance #BIRAccredited #SmartBusinessSolutions #BusinessEfficiency #EntrepreneursPH #PhilippinesBusinesses

https://ph.autocountsoft.com
https://www.linkedin.com/company/autocount-my
https://twitter.com/AutoCountSoft
https://www.facebook.com/autocountphilippines

The issuer is solely responsible for the content of this announcement.

AUTOCOUNT DOTCOM BERHAD (“AUTOCOUNT”)

View corporate video at: https://youtu.be/IERy2r7KA5E

• On average, Malaysian online sellers have adopted AI in only 26% of their business operations, significantly lower than the SEA average of 37%.
• Indonesia and Vietnam lead average AI adoption in eCommerce in Southeast Asia, followed by Singapore and Thailand.
• Lazada’s new playbook provides sellers with best practices, actionable insights and resources to help integrate AI into their operations.

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 8 April 2025 – Lazada, a leading eCommerce platform in Southeast Asia, today published its research report, Bridging the AI Gap: Online Seller Perceptions and Adoption Trends in Southeast Asia (SEA). Developed in collaboration with Kantar, the report surveyed 1,214 eCommerce sellers across Malaysia, Indonesia, the Philippines, Singapore, Thailand, and Vietnam to examine AI adoption trends, challenges, and opportunities—shedding light on sellers’ readiness to integrate AI into their operations.

Knowledge, perception and implementation gap evident among online sellers

The research reveals that 69% of Malaysian online sellers show strong familiarity of AI, in line with the average for the region at 68%, indicating that they are aware of AI. While SEA sellers believe they have integrated AI into 47% of their business operations, actual adoption stands only at 37%. In Malaysia, this gap is even wider with sellers estimating adoption at 30%, while real implementation is lower at just 26%, underscoring a disparity between perceived and actual AI use in the country.

Online sellers face a dilemma in terms of assessing AI efficacy and its cost implications. While 89% of SEA sellers acknowledge AI’s role in boosting productivity, this sentiment is slightly lower amongst Malaysian sellers at 77%. This contrasts with the perceived overall usefulness of AI, where only 1 in 2 Malaysian sellers are sceptical about its utility, compared with almost two-thirds (61%) of SEA sellers who feel the same. Furthermore, although 87% sellers in Malaysia agree that AI can drive long-term cost savings, nearly two-thirds (64%) cite costliness and time-consuming implementation as barriers to adoption.

The research also suggests an implementation gap, where sellers understand the importance of AI but struggle with effective deployment. Highlighting the challenge of transitioning from familiar, manual processes to AI-driven solutions, nearly all sellers in SEA (93%) agree that it is important to upskill the workforce to use AI so that they can be more productive, yet 3 out of 4 sellers (75%) also concede that their employees still prefer to use tools they are familiar with, rather than new AI solutions. In Malaysia, the importance of upskilling for AI is slightly lower at 89%, although a high majority of sellers (67%) still indicate that their employees prefer to use tried-and-tested ways of working.

Comparing AI-readiness levels in Malaysia vs. SEA

Across the region, Indonesia and Vietnam lead with 42% AI adoption across business functions, while Singapore and Thailand follow closely at 39% and finally the Philippines at 32% and Malaysia at 26%. Based on the level of AI adoption across five core aspects of operations of a seller’s business, namely operations and logistics, product management, marketing and advertising, customer service, and workforce management, the report identifies three distinct seller archetypes – AI Adepts, AI Aspirants, and AI Agnostics^[1], based on the average score they attained in each aspect of operations to represent their readiness level to embrace AI:

• AI Adepts: Sellers who have integrated AI across at least 80% of their operations, placing them at the forefront of adoption. Only 15% of Malaysian sellers belong to this category, significantly lower than the SEA average of 24%.
• AI Aspirants: Sellers who have partially integrated AI into their operations, but still face adoption gaps across key functions. This group comprises 43% of Malaysian sellers, aligning with half of the sellers in Southeast Asia (50%).
• AI Agnostics: This group lags in AI adoption, with most business functions still handled manually. Malaysians have a notably higher number of sellers in this category (42%), nearly double the Southeast Asia average of 26%.

Findings indicate that Thailand has the highest share of AI Adepts, with 30% of sellers in this category. Singapore (29%), Indonesia (29%), and Vietnam (22%) also demonstrate strong AI implementation despite knowledge gaps, while Malaysia (15%) and the Philippines (19%) face challenges related to internal buy-in and infrastructure limitations. 85% of Malaysian sellers fall into the AI Aspirants and AI Agnostics categories, signalling a pressing need for enhanced seller support (48%) and AI-powered tools (47%) to drive implementation.

“The findings from our research reveal a fascinating gap in Southeast Asia’s eCommerce ecosystem. While most sellers understand AI’s transformative potential, many are still navigating the path from recognition to implementation,” said James Dong, Chief Executive Officer, Lazada Group. “As a leading eCommerce platform in Southeast Asia, we aim to bridge the knowledge and adoption gap by developing accessible AI solutions that address the unique challenges faced by sellers across different markets, ultimately making technology more accessible and driving sustainable business growth regardless of a seller’s size or technical expertise.”

Leveraging Lazada’s AI-driven solutions to transform business operations

To support sellers in their AI adoption journey, Lazada is launching the Online Sellers Artificial Intelligence Readiness Playbook, designed to provide strategic guidance based on sellers’ AI maturity levels. The research reveals that sellers are already leveraging key AI-driven solutions on Lazada’s platform to enhance their efficiency, validating Lazada’s continuous investments into cutting-edge AI innovations and advanced tools that streamline eCommerce operations and drive competitiveness.

With 67% of sellers expressing strong satisfaction in existing Lazada AI features^[2], Lazada is also releasing new Generative AI (GenAI) features that are designed to empower sellers and enhance their product listings, streamline operations, and boost customer conversions such as:

1. AI Smart Product Optimisation: Powered by GenAI, this tool helps sellers identify improvements they can make to their product titles, descriptions, or even photos. It enables automated virtual try-ons, background modifications, and model adjustments, allowing sellers to produce professional product imagery quickly within minutes.
2. AI-Powered Translations: This feature automatically translates product content into multiple local languages, enabling sellers to expand their reach across diverse markets efficiently and accurately.
3. Lazzie Seller: A dedicated AI assistant within the Alibaba Seller Centre (ASC), providing instant responses to frequently asked questions, quick navigation to key features, store risk assessments, and business advice to boost seller efficiency and growth.

To find out more, download the Online Sellers Artificial Intelligence Readiness Playbook to understand how these solutions can offer a structured framework for sellers to integrate AI into their workflows to drive growth, efficiency, and innovation in an ever-evolving eCommerce landscape.

About the Research

Developed in partnership with Kantar, Bridging the AI Gap: Online Seller Perceptions and Adoption Trends in Southeast Asia provides a comprehensive analysis of AI adoption trends, challenges, and opportunities, offering insights into how sellers can leverage AI to drive growth and efficiency in Southeast Asia’s evolving eCommerce landscape. The report surveyed 1,214 eCommerce sellers across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam in February 2025.

This follows the Artificial Intelligence Adoption in eCommerce in Southeast Asia Whitepaper, another research conducted in partnership with Kantar, which surveyed more than 6,000 eCommerce users in the region in September 2024 to better understand AI awareness, trust and preferences, shopping behaviour, and consumer pain points in the region.

Annex
Lazada’s AI features for sellers:

1. Lazada Business Advisor: AI-powered analytics tool that provides real-time insights to optimise sales and business performance. Almost seven in 10 Lazada sellers report strong satisfaction and almost half (48%) actively use this tool to track trends and make data-driven decisions
2. Lazada Sponsored Solutions: A targeted advertising platform that boosts product visibility and maximises sales through AI-driven recommendations. Two in three (67%) sellers report strong satisfaction, and 46% actively use this tool, citing its positive impact on sales growth.
3. AI Smart Listing: Generative AI tool that automates product listing by generating and pre-filling compelling attributes based on images or keywords. 64% of sellers report strong satisfaction in leveraging this feature to reduce listing time and improve content quality.
4. Virtual Try-Ons: An AI-powered AR feature that allows shoppers to visualise products in real time, increasing purchase confidence and reducing returns. 62% of sellers express strong satisfaction with its effectiveness, with 42% of sellers using it actively.
5. AI Selling Points: A tool that analyses product data and customer behaviour to automatically highlight key product features to drive conversions. 68% of sellers express strong satisfaction with this feature and 42% actively use it to attract more customers to their storefront online.
6. Lazada IM Shop Assistant (LISA): An AI-powered tool that helps sellers enhance customer engagement by providing automated, AI-driven responses to inquiries, improving service efficiency and conversion rates. 65% of sellers express strong satisfaction with this feature and 38% actively use it.

Hashtag: #LazadaMY #Lazada

https://www.lazada.com.my
https://x.com/LazadaMY
https://www.facebook.com/LazadaMalaysia
https://www.instagram.com/lazada_my/

The issuer is solely responsible for the content of this announcement.

About Lazada Group

Lazada Group is Southeast Asia’s pioneer eCommerce platform. For the last 13 years, Lazada has been accelerating progress in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam through commerce and technology. Today, a thriving local ecosystem links about 160 million active users to more than one million actively-selling sellers every month, who are transacting safely and securely via trusted payment channels and Lazada Wallet, receiving parcels through a homegrown logistics network that has become the largest in the region.